London (CNN Business)The French government is moving to install an interim leader at Renault following the arrest of CEO and Chairman Carlos Ghosn in Japan on Monday.
Finance Minister Bruno Le Maire said that he would meet with representatives from Renault on Tuesday to discuss appointing interim management because Ghosn is “no longer capable of leading the group.”
Ghosn, an auto industry legend
who is also chairman of Nissan (NSANY
) and Mitsubishi Motors (MMTOF
), was detained by Japanese authorities
after an internal investigation at Nissan revealed “significant acts of misconduct” over many years.